The initial public offering of American Life Insurance Company (ALICO) may be soon at hand. Alico’s parent, New York-based American International Group, Inc. (AIG) says it will accelerate steps to position ALICO as an independent entity.
Financially strapped AIG announced in March it would seek an IPO of ALICO, which would have a board of directors and management team for ALICO separate from AIG. Alico is a provider of life insurance, accident and health insurance, retirement planning, and wealth management solutions. It has 40,000 agents and brokers, 11,000 employees and 19 million customers worldwide.
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